Solid week for most export inspections
The USDA says that during the week ending February 17th, corn, sorghum, and wheat export inspections all showed solid improvements. The 2021/22 marketing year started June 1st, 2021 for wheat and September 1st, 2021 for corn, sorghum, and soybeans. The USDA’s next set of supply and demand estimates is out March 9th.
Wheat came out at 539,366 tons, up 80,029 from the week ending February 10th and 214,769 from the week ending February 18th, 2021. The leading destinations were Japan and Mexico. For the 2021/22 marketing year to date, wheat inspections are 15,047,249 tons, compared to 17,801,759 in 2020/21.
Corn was reported at 1,576,666 tons, 120,973 higher than the previous week and 299,334 above a year ago. The top destinations were China and Japan. At this point in the marketing year, corn inspections are 21,641,447 tons, compared to 24,196,393 last year.
Soybeans were pegged at 975,102 tons, 185,218 less than the prior week, but 171,064 more than this time last year. The main destinations were China and Egypt. So far, this marketing year, soybean inspections are 39,800,818 tons, compared to 51,102,622 a year ago.
Sorghum totaled 257,855 tons, an increase of 75,325 on the week and 133,754 on the year. The largest single destination was China, followed distantly by Mexico. 2021/22 sorghum inspections are 2,873,829 tons, compared to 3,464,945 in 2020/21.